Many real estate investors count on private real estate financing to buy a new property or home, or rehab or refinance one they already own. Rio Rancho private mortgage loans have many advantages — they are fast closing, easy qualifying and are also available to self-employed individuals.

Meaning that irrespective of the caliber of your credit score, you still have a good chance of obtaining private money for a real estate loan so long as your investment is presumed to be profitable, you have enough capital reserved for the down payment, you have shown yourself capable in the real estate market previously, you have substantial equity contained in the home or you can show a legitimate plan to pay back the loan. Combined with fast closings of 2 weeks, private real estate mortgages in Rio Rancho are the right choice for serious real estate investors.

Commonly, customers seek out a private mortgage lender in Rio Rancho when:

1. They need to renovate or make repairs to the house so they can offer it for sale at a much higher price point or to bring in higher rents.

   By way of example, we had this customer who owned a two-family rental. He held a great deal of equity available in the asset and the rent brought in routine income each month. While several remodeling work to the property would've enabled him to command higher rent, a bank would likely have turned down his loan request, due to the fact he had a credit score of only 520. Accordingly, he turned to Read Rock Capital to do a cash-out refinance and received a loan at 65% LTV.

2. They have numerous outstanding debts and wish to consolidate them.

   Most people find it stressful to make numerous payments each month. As a result, numerous people do a loan from their home equity to consolidate all their debts into a single loan payment.

3. They would like to unlock their equity in one property or home and use it to purchase a different one.

   One of Island View's clients located in Hawaii owned a property valued at $1.2 million. When he was not able to procure a buyer for his house, he agreed to a lease-option-to-buy arrangement with someone. The income that came from the rent covered his ongoing mortgage bill, home owner's insurance, and taxes. He also was given a $200k non-refundable deposit for the 3 year lease contract. The signed agreement meant he did not have to concern himself with the property's ongoing financial obligations, and as a result, when a new real estate investment opportunity came up, he found Read Rock Capital and received a private mortgage loan at 70% loan to value. This not only gave him adequate cash to put towards a deposit on his next investment, but also helped him pay down the current mortgage.

4. They want help to satisfy the balloon payment for the existing mortgage.

   If an unforeseen incident stops someone from making his balloon payment due date, he can find an alternative company to refinance. Refinancing ahead of the due date allows you to meet the deadline for the balloon payment and avert any penalty charges related to failing to pay the balloon payment.

In search of a private mortgage lender in Rio Rancho to fund your real estate investment? Enter your info into the form on this page or call us and let's talk about the property you have in mind.